FREQUENTLY ASKED QUESTIONS
What is the Cardano project?
Cardano is a security focused blockchain that harnesses the latest research and engineering insights to build a platform suitable for the highest value applications. Built on a foundation of peer-reviewed research created through partnerships with the world’s foremost universities, Cardano aims to create a platform for decentralised applications and smart contracts that can be processed with a technique called formal verification. This allows logical proof of the correctness of code and smart contracts, for those applications where value is high and security is paramount. Cardano combines this with an innovative layered approach that separates accounting of value from all other smart contract and computation activity. This means functionality can be added to smart contract capabilities without changing the protocol responsible for Ada holdings. More information can be found at: https://www.cardanohub.org/en/what-is-cardano/
Why was Cardano started?
Cardano was created in an effort to change the way cryptocurrencies are designed and developed. The overall focus beyond a particular set of innovations is to provide a more balanced and sustainable ecosystem that better accounts for the needs of its users as well as other systems seeking integration. More information can be found at: https://www.cardanohub.org/en/why-cardano/
What is unique about Cardano?
Cardano is the first blockchain project to be peer reviewed by academic researchers. This level of scrutiny of the underlying technology is an industry first. Further to this Cardano is unique in that it’s built on the Haskell coding language. Haskell is considered to be one of the most secure programming languages, minimizing the number of errors and adding extremely robust security to the platform. More information can be found: https://whycardano.com/
Who is the team behind Cardano?
There are three organisations that are contributing to the development of Cardano. The first is the Cardano Foundation, an objective, non-profit organisation based in Switzerland. Its core responsibilities are to nurture, grow and educate Cardano users and commercial communities, to engage with authorities on regulatory and commercial matters and to act as a blockchain and cryptocurrency standards body. The second entity working on Cardano is IOHK, a leading cryptocurrency research and development company, which holds the contract to develop the platform until 2020. The final business partner is Emurgo, which invests in start-ups and assists commercial ventures to build on the Cardano blockchain. More information can be found at: https://www.cardanohub.org/en/team/
How was Cardano funded?
Cardano was funded via a token crowdsale that was held between September 2015 and January 2017. Attain Corporation which had representative in both Japan and the UK led and organised the sale of Ada vouchers. The total amount raised was just over $62 million USD making Cardano one of the largest global blockchain projects to date. More information can be found at: https://www.cardanohub.org/en/audit-report-summary/ and https://www.cardanohub.org/en/genesis-block-distribution/
What is Ada?
Every blockchain project has a token of value commonly referred to as a cryptocurrency. Ada is the cryptocurrency on the Cardano blockchain. With Ada you may send value between friends, pay for a good or service, deposit funds on an exchange, or enter an application. Performing transfers on the settlement layer will require that you already own Ada, or that you acquire Ada through an exchange. It will also be the native token to be used in applications built on Cardano.
How do I buy or sell Ada?
There will be a number of exchanges that will list Ada so that it can be purchased and sold. More information as to which exchanges will list Ada will be released after the launch. More information can be found at: https://www.cardanohub.org/en/buy-sell-ada/
What is Daedalus?
Daedalus is a wallet, developed by IOHK which will allow you to store Ada. Daedalus is a Hierarchical Deterministic (HD) wallet, allowing you to create an infinite set of keys from a single seed. Whenever you want to move your wallet, you will only need to enter your seed and the HD algorithm will find all your Ada. This means you will never have to worry about managing lots of seeds or files of keys. More information can be found at: https://www.cardanohub.org/en/the-daedalus-wallet/
When will Cardano launch?
The official public launch date of Cardano has been set for 29th of September 2017. You can follow the launch more closely on https://cardanolaunch.com/ and track milestones as they are reached.